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The Franklin Apartments 1549 W 117th St 20 Unit Apartment Building $1,295,000 ($64,750/Unit) 7.50% Cap Rate Cleveland, OH 44107
INVESTMENT HIGHLIGHTS
- High Foot Traffic
- Major Intersection
EXECUTIVE SUMMARY
20-unit apartment building for sale in Cleveland located at a major intersection. Offered for sale at $1,295,000.
PROPERTY FACTS
| Price | $1,295,000 | Building Class | C |
| Price Per Unit | $64,750 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 13,980 SF |
| Cap Rate | 7.50% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2014 |
| Property Subtype | Apartment | Parking Ratio | 0.93/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $1,295,000 |
| Price Per Unit | $64,750 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 13,980 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2014 |
| Parking Ratio | 0.93/1,000 SF |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Window Coverings
SITE AMENITIES
- Vintage Building
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | 650 |
| 2+1 | 10 | - | 800 |
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 001-22-056 | Improvements Assessment | $231,140 |
| Land Assessment | $31,290 | Total Assessment | $262,430 |
PROPERTY TAXES
Parcel Number
001-22-056
Land Assessment
$31,290
Improvements Assessment
$231,140
Total Assessment
$262,430
ZONING
| Zoning Code | Multi-Family |
| Multi-Family |
MAP
ADDITIONAL PHOTOS
Exterior Door
Common area
Common area
Common area
LR2
Bath1
Exterior Franklin side
Kit1
LR2
DR1
Kit1